St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-09-11
ALLEGED DOUBLE DEALING.
The WeU-Known Firm of Cochran
Il Walsh Accused of Peculiar
Real Estate Schemes.

The WeIl-known Firm of Cochran
Il Walsh Accused of Peculiar
Real Estate Schemes.
A legal quarrel has sprung up over
about Sl25, 200 worth of land situated at
Merriam Park, in which several prom
inent members of the House of Hope
church are the leading figures, and in
which fraud, cheating and underhanded
double dealing are alleged. The COM
plant was fed yesterday. The land is
forty acres, described in real estate cir
cles as the west one-half of the third adj
dition to Merriam Park. The plaintiffs
are William Frank Newell, we'll
known young civil engineer, and DIR.
John +. Fulton, and the defendants are
Thomas Cochran, Jr., and SilaS 3.
Walsh, known as the real estate firm of
Cochran IL Walsh, and Earl A. Hold
ridge, clerk in Cochran 81 WalSh'S
office. Mrs. Stowell commenced case
something similar to this against the de-
PENDANTS while ago, and it is intimated
that other suits are to follow.
Messrs. Newell, Fulton and Holdridge
went together in a joint real estate
venture in March of last year and pur-
chased the property from Bishop Ire
land for $4,000, paying 1880 down
and giving mortgage for the remain
der. The conveyance was made out in
Newell'S name, but each of the parties
in the venture got a third interest, ac-
cOrding to their agreement. The plain
tiffS allege that Cochran d. Walsh were
acting as Bishop Ireland's agents and
negotiated the sale to Newell, Fulton
and Holdridge.
Cochran Il Walsh have since been the
agents of the purchasers. The plain
tiffS charge defendants with double
dealing in the transaction which fol-
lows: They say that while Cochran
q Walsh were their agents they
entered into mutual, secret,
and fraudulent arrangement whereby
a third person, to-Wit, one James p.
Moore, secretly acting for them and in
their behalf, but ottenSib1y for himself
and in his own name, in order to con-
ceal said fraudulent design, should
nominally become the purchaser of said
land. Then. according to the charges,
Cochran 81 Walsh, acting as agents for
both prospective sellers and purchaser,
negotiated a sale, Mr.. Holdridge being
a party to the scheme, by inducing the
plaintiffs to sell the property for S74,-
200 to MIR. Moore, who, they allege,
while acting in the interest of defend
ants, represented himself as the agent
of syndicate made up of pominent
men of this city. The amount paid
down was S21,700, the mortgage to
Bishop Ireland being assumed by the
purchasers. Plaintiffs each got a third,
but, they say, the sale by Mr.. Holdridge
of his interest was so arranged as to be
only sale in name, for, being party
to the scheme of Cochran 81 Walsh, he
was peculiarly recompensed in the next
transaction that was made. Moore,
at Cochran 81 Walsh's instructions,
sold the land they say, clearing profit
upon it of over $4,000, besides paying
Off the mortgage. 1t was in this trans
action that, according to the allegations,
Mr.. Holdridge got big pile in the
shape of an extensive interest, out of
the scheme for going in cahOOts with
Cochran Il Walsh. The plaintiffs also
charge Cochran & Walsh with with
holding information from them regard
ing the proposed motor line which,
they believe, has greatly enhanced the
value of the property. Newell and Full
ton place their damages at $4,000 and
say they believe the land is we'll worth
S125,000. They ask the court to annul
the sale made to Moore and adjudge it
fraudulent; to declare that defendants
acquired and held the title simply as
trustees for plaintiff: to require the de-
PENDANTS to account for the same and be
charged the highest market price for it,
and to give the plaintiffs Judgment for
the amount found due them in such &C
counting